Other research analysts have also issued reports about the company. Wedbush began coverage on IVERIC bio in a research note on Monday, January 6th. They set an outperform rating for the company. Cowen began coverage on IVERIC bio in a research note on Friday, January 24th. They set an outperform rating for the company. Finally, BidaskClub lowered IVERIC bio from a buy rating to a hold rating in a research note on Saturday, February 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $1.50.
Shares of NASDAQ ISEE traded up $0.37 during trading hours on Thursday, reaching $3.43. The stock had a trading volume of 338,644 shares, compared to its average volume of 496,905. The business’s fifty day moving average is $4.58 and its two-hundred day moving average is $4.48. IVERIC bio has a twelve month low of $0.91 and a twelve month high of $8.97. The company has a market cap of $159.01 million, a price-to-earnings ratio of -2.47 and a beta of 2.38.
Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of IVERIC bio by 24.1% during the fourth quarter. Geode Capital Management LLC now owns 215,709 shares of the company’s stock worth $1,850,000 after purchasing an additional 41,935 shares during the last quarter. Perceptive Advisors LLC bought a new stake in shares of IVERIC bio during the fourth quarter worth $8,497,000. Samsara BioCapital LLC bought a new stake in shares of IVERIC bio during the fourth quarter worth $6,006,000. AXA bought a new stake in shares of IVERIC bio during the fourth quarter worth $453,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of IVERIC bio during the fourth quarter worth $960,000. Institutional investors own 63.55% of the company’s stock.
About IVERIC bio
IVERIC bio, Inc, a biopharmaceutical company, develops novel therapies to treat ophthalmic diseases with a focus on age-related and orphan retinal diseases. The company is developing Zimura, an inhibitor of complement factor C5, which is in Phase IIb clinical trials for the treatment of geographic atrophy (GA), a late-stage form of dry age-related macular degeneration (AMD) characterized by retinal cell death and degeneration of tissue in the central portion of the retina known as the macula; and autosomal recessive Stargardt disease (STGD1), which is an orphan inherited retinal disease (IRD).
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